China to Bolster Web3 in 2024 with $10B Investment Fund

A top-tier venture capital entity in China, “GBA Capital”, has launched a massive $10 billion investment fund to bolster Web3 startups.

Recently announced at the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference, the fund is to boldly empower innovative areas like VR, the Metaverse, and NFTs.

GBA Capital’s ultimate goal is to elevate the Guangdong-Hong Kong-Macao region to a prominent position in the meta-asset arena.

BREAKING NEWS

CHINA BETS BIG ON #BITCOIN & CRYPTO .

CHINESE VENTURE CAPITAL FIRM
GBA CAPITAL HAS ANNOUNCED A
$10 PLEDGE TO ESTABLISHED A
WEB3 FUND. pic.twitter.com/PKsHSkBQs0

— BITCOINLFG® (@bitcoinlfgo) December 28, 2023

Advancing Web3 Developments in Asia

In pursuit of GBA Capital’s ambitious aims, organizing “meta-asset global tours” in major cities across the globe is part of its plans — highlighting the advantages of digital assets to position the Guangdong-Hong Kong-Macao region as a Web3 powerhouse.

Adding to this momentum, earlier in the year, “Zhongrong Global,” part of the GBA group, successfully raised a notable 100 million Chinese yuan (around $14 million) in angel funding, aimed at propelling Web3 projects forward.

Significantly, these investments in China’s Web3 sector are hot on the heels of the Asian companies, Whampoa Digital and Wemade, co-raising a remarkable $100 million fund to boost blockchain gaming across Asia.

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The post China to Bolster Web3 in 2024 with $10B Investment Fund appeared first on NFT Plazas.

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China to Bolster Web3 in 2024 with $10B Investment Fund

Advancing Web3 Developments in Asia

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